by Board Retailers Association | Oct 17, 2021 | Educational Opportunity, HR, Industry, Resources, Retail Strategy, Statistics, Trade Shows
Concerns about the delta variant contributed to store traffic declines in July, combined with some signs that consumer confidence is wavering. The outlook for business in Q4 is nowhere near certain. In this Board Retailers Association (BRA) Retailer Roundtable panel discussion, the panelists speak about how these factors are affecting independent retailers plans for holiday selling this year. In addition, the panel explored and shared current pricing practices that have increased operating margins in their stores as well as significant staffing challenges. These competitive pricing and staffing strategies can be implemented in your store immediately. This remarkable panel was moderated by George Leichtweiss (BRA Chairman and owner of Modern Skate & Surf) and included Paul Erickson (Director and Senior Retail Consultant at BRA Supporting Vendor Partner Management One), Bruce Cromartie (BRA Board Member and Owner of BC Surf & Sport) and Doug Works (BRA Executive Director and former retailer). Push play to view this remarkable BRA Retailer Roundtable Panel Discussion from Surf Expo – 9 21 Massive thanks to Jesse of Podium (BRA Supporting Vendor Partner) for introducing their remarkable retail resource and sponsoring this outstanding event. Learn more about Podium in the following article: BRA Podium 4 Ways Article The video above serves as the 2021 3rd Quarterly BRA + Management One Webinar. At the end of the each Quarter, Board Retailers Association hosts relevant and helpful quarterly webinars on a variety of topics in collaboration with BRA Supporting Vendor Partner Management One. Push play to view the 2nd Quarterly BRA + Management One Webinar of 2021 Push play to view the 1st Quarterly BRA + Management One Webinar of...
by Board Retailers Association | Sep 29, 2021 | Industry, News, Retail Strategy, Statistics
image courtesy of Daphne Howland/Retail Dive Dive Brief: As brands large and small try to capture more margin by selling directly to consumers, analysts with BMO Capital Markets question whether the strategy is truly more profitable.In a recent report, the analysts found that wholesale sales come with higher margins before taxes and interest than DTC sales. Moreover, shifts to DTC channels could translate into lower sales dollars overall even though brands capture more of the sales price for themselves. The BMO analysts wrote that “although revenue per item grows at DTC, the units lost by abandoning wholesale generally overwhelm the unit price lifts at DTC.” Dive Insight: Nike is doing it. Adidas is doing it. Crocs is doing it. Canada Goose, Vera Bradley and Michael Kors are doing it. Brands across the board have been expanding and prioritizing their direct channels, often to the detriment of retailers that rely on national brands to drive their own sales. The strategy is based on the straightforward promise that brands can capture more of the sale price of a product and thus keep more of the profits. But the BMO report calls into question the formula that more DTC sales equal higher profits. The analysts estimate that wholesale margins are about 1,000 basis points higher on average than those of DTC, prior to taxes and interest payments. The reasons for that are not really known with any certainty. The BMO analysts suggest a few theories, including that the scale of wholesale sales reduces the cost of goods sold and that wholesale sales boost the visibility of a brand. For a brand, making DTC sales online is a costly venture compared to...
by Board Retailers Association | Sep 13, 2021 | Corona Virus, Retail Strategy, Statistics
kajakiki via Getty Images Dive Brief: Consumers are retrenching in the face of the delta variant of the coronavirus, with 20% “highly optimistic” about a return to normal, down from a third at the beginning of the summer, according to Numerator research. Nearly 60% are “very or somewhat concerned” about holiday plans being disrupted by the pandemic, Berkeley Research Group found.The number of people who said they had resumed pre-COVID behaviors fell for the first time, from 39% in July to 27% in August, Numerator said. Nearly half say they expect a full reopening to be delayed until 2022 or later, up from 23% who said so in July and 18% in June, the firm found. The comfort level of shopping without a mask dropped 15 percentage points from July to August, with 34% preferring to go in stores with mask requirements and 36% having a higher level of respect for businesses that enforce mask wearing, per Numerator research. Dive Insight: After waning this year, troublesome uncertainty is gaining strength, as the delta variant of the virus spreads and immunization rates in many areas falter. Wells Fargo economists noted that new COVID-19 cases were averaging about 100,000 daily at the time of their August economic outlook report, but had risen to more than 150,000 per day at the time of their September report last week. “As a result, Americans have generally become more cautious,” they noted. To address the renewed strength of the disease and its risks to health, life and the economy, President Joe Biden last week announced an unprecedented move to require large businesses to vaccinate their employees or have any unvaccinated employees produce a...
by Board Retailers Association | Aug 10, 2021 | Competitions, Debate, Olympics, Skateboard, Statistics
No matter how you feel about skating being in the Olympics, there’s no denying that it’s been an exciting time for skateboarding. Competitive skating may be stale, but one factor that has added some spice into the mix is that sportsbooks have opened up betting for skate events. That means we can all put money down on our favorite skaters and actually have some sort of stake in the game while watching, instead of just twiddling our thumbs giving armchair critiques to a guy in Cariumas. We know gambling’s not for everyone, but for those who are interested in being degenerates, we tracked down a professional sports gambler to ask about how odds are calculated and if the betting world really is as grimy as they make it seem in movies and TV. What’s the deal with the legality of gambling on sports in the USA?We have a situation, like marijuana, where half the states are legal and half the states aren’t. Just the other day, I was in an Uber on my way from New Jersey to New York playing poker on my phone and I was playing up until the bridge. Literally, as you cross into New York the app will turn off and say “your geolocation…” So that’s where we’re at, but it’s changing. You can bet on skateboarding online, but are there still old-school bookies around in person?Yeah, some people bet through illegal bookies in New York still. Many of them have been in the business for a long time, I’ve known one guy for 25 years. We’re from the same town. Is it sketchy dealing with them?I...
by Board Retailers Association | Aug 2, 2021 | Industry, News, Outdoor, Resources, Statistics
Image of Jon Comer, pioneer of adaptive skateboarding (courtesy of ESPN) Outdoor Sports Insurance evaluated industry sites for compliance EDEN PRAIRIE, MINNESOTA (Last Monday marked the 31st anniversary of the signing of the Americans with Disabilities Act (ADA). Outdoor Sports Insurance (outdoorsportsins.com), the longest serving business insurance broker in Ski, Bike, Board and Outdoor markets, recently completed a report evaluating over 275 outdoor industry retailer and brand websites for ADA compliance. “We often only think about the ADA in our physical spaces, but with so much of our lives now beingconducted online it is important that we ensure that all have equal access to our digital presence,” saidRob Martin, Outdoor Sports Insurance managing director. Using the Web Accessibility Evaluation Tool (WAVE), Outdoor Sports Insurance evaluated thehomepages of 141 outdoor retailers and 147 outdoor brands and manufactures for errors and contrasterrors. Errors include empty links, missing alternative text, and missing labels, among others. Contrasterrors are present when the color of text and the color of the background are low-contrast.The 147 brand websites evaluated included a broad spectrum of the industry in terms of size, reach, andcategory including apparel, footwear, paddle sports, hardgoods, camping, hiking, nutrition, and more. Theevaluated sites on average had 18 errors and 17 contrast errors. About 54% of the sites had 10 or lesserrors and 58% had 10 or less contrast errors. 12 brands received perfect scores with 0 errors andcontrast errors. Of the 141 retailer sites evaluated, on average the sites had 13 errors and 19 contrast errors. About 57% of the sites had 10 or less errors and 47% had 10 or less contrast errors....
by Board Retailers Association | Jul 22, 2021 | News, Retail Strategy, Statistics
Credit: Getty Images by Max Riesgo Consumers plan to spend record amounts for both school and college supplies as families and students plan to return to in-person classrooms this fall, according to the annual survey released today by the National Retail Federation (NRF) and Prosper Insights & Analytics. Families with children in elementary through high school plan to spend an average of $848.90 on school items, which is $59 more than last year, according to the NRF. Total back-to-school spending is expected to reach a record $37.1 billion, up from $33.9 billion last year and an all-time high in the survey’s history. College students and their families plan to spend an average of $1,200.32, an increase of $141 over last year. Over half ($80) of this increase is due to increased spending on electronics and dorm furnishings. Total back-to-college spending is expected to reach a record $71 billion, up from $67.7 billion in 2020. About 43 percent of all shoppers said they will use government stimulus money to purchase items for school. According to the survey, as of early July more than half (51 percent) of K-12 and college shoppers have begun shopping for the items they will need when classes resume later this year. However, the vast majority (76 percent) of K-12 shoppers were still waiting on lists for school supplies as of earlier this month. Total Retail’s Take: In other good news, the NRF said last week that retail sales saw solid growth during June, increasing in most categories on a monthly basis and across the board on a yearly basis as the recovery from the coronavirus pandemic continued....
